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1.Market Observations, 8.Was Sticky

7 June 2017 (AFR) – Fresh supply shock hits east coast industrial gas users

(7 June 2017, AFR, p8, by Angela Macdonald-Smith)

‘Fresh evidence has emerged of the supply shock hitting industrial users of gas on the east coast, where shortages have driven up prices to levels some cannot afford. Short-term gas prices in the March quarter were double the levels of a year earlier, driving a 16 per cent drop in the use of gas outside power generation or to fuel the new Queensland LNG ventures, according to the latest analysis from consultancy EnergyQuest. “Gas supply is so tight that demand contraction has not restored market balance and prices remain high,” EnergyQuest chief executive Graeme Bethune said.’

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